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Fracton Protocol enriches the NFT ecosystem, how?

Nov 23, 2022
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Fracton Protocol enriches the NFT ecosystem, how? Discover the features and benefits of this project.

Fracton Protocol

Fracton Protocol addresses specific needs for NFT users.

Indeed, non-fungible tokens have recently gained momentum in the crypto markets, and half of the ETH gas has burned up due to NFT strikes and transactions. However, as the name implies, NFTs are effectively non-fungible, non-divisible and therefore illiquid. For example, the average cost of buying a BAYC on the secondary market would be over 80 ETH, and these well-established collections are reserved for crypto whales and the rich.

Therefore, the purpose of this project and to solve the problem of low liquidity and unacceptable prices of NFT assets by introducing meta-swaps, NFT liquidity pools and derivatives.

If you are interested in NFT news, then this system should interest you.

Fracton Protocol, what are we talking about?

Fracton Protocol is a fractionalization trading platform for blue-chip NFTs. It enables efficient price discovery and equity distribution of NFTs by allowing users to buy, own, and trade fractionalized tokens in ERC-20 and ERC-1155 standards.

What is NFT Fractionalization?

NFT fractionalization refers to splitting a complete NFT into smaller pieces, thus allowing multiple people to gain partial ownership of the same NFT. Users can imagine NFT as a cake, and fractionalization is to cut up the complete cake for numerous people to enjoy.

How does Fracton work?

When you come to Fracton Protocol, you can join the open fundraising, which is the first step of the fractional process of the target NFT. After receiving your People’s NFTs (i.e., the ERC-1155 fractions), you can swap them for smaller pieces of ownership – the $FFTs (i.e., the ERC-20 tokens) – at a 1:1000 ratio.

If the fundraising round succeeds, Fracton Protocol will acquire the targeted NFT and deposit it into the treasury. Then, the fractions owners are allowed to redeem any NFTs with enough People’s NFTs instantly.

If the fundraising round fails, Fracton will use the funds raised to repurchase the accrued $FFT released in this round, ensuring the exchange rate is valid.

Meanwhile, fractions owners can trade $FFTs in DEX and cooperative CEX, seeking arbitrage opportunities.

HiBAYC token:

HiBAYC is an ERC-20 token pegged to BAYC NFT by fractionalization.

One HiBAYC token represents 1/1,000,000 BAYC in an on-chain BAYC Meta-swap pool operating by Fracton Protocol.

The circulating supply of HiBAYC is equal to the total supply and based on the actual amount of BAYC in the BAYC Meta-swap pool. BAYC in the pool can be redeemed by HiBAYC from Fracton Protocol at any time.

Vision

Fracton Protocol wishes to construct a bridge between the decentralized world and centralized exchanges, attracting more people to join the NFT world, holding more high-quality NFT collections, and making the NFT market great again!

Direct access to the official website


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